Payments

Brett Mooney returns to the card network as the country manager for Canada, a digital-forward market that is attracting more competition from banks and fintechs.

The major payment card networks are "pausing" the rollout of a new merchant category code to identify purchases at stores that sell guns and ammunition, following pushback from lawmakers in Florida and elsewhere.

The card network is examining how to make incentives more personal by using advanced technology to sift through a trove of consumer spending data.

The pandemic's push to expand contactless mass-transit payments has produced a 120% increase in Discover's transit transactions since 2020 as more commuters opt for the pay-as-you-go approach versus prepaying.

The bank has agreed to acquire Big Data Healthcare, a Texan fintech that automates commercial payments flowing to and from hospitals and medical groups. It's the latest example of banks' deepening health care investments.

PayPal said Chief Financial Officer Blake Jorgensen will step down following a leave of absence for health reasons, amid a shuffle of upper management at the online-payments platform.

This week's global news roundup includes Apple Pay securing a lingering holdout; a CBDC project that targets FX rates, and more.

Walmart sees great opportunities for its PhonePe unit, particularly in how it can boost Cashi, which the retail giant operates in Mexico.

After a three-decade climb up the corporate ladder, Reda took on her most daunting task yet: launching the card network's new consumer banking unit.

Associate partner Mary Ann Francis is a risk taker — the kind who jumps off a waterfall without a parachute. She brings this same boldness to her work at IBM, where her decades of banking experience help the tech giant find new opportunities for artificial intelligence and quantum computing.